NYC 9/11 Public Portal Document
taxes and assessments (excluding the BID and special assessments attributable to additions or
capital improvements, other than replacements, to the Building which are not customary for a
first-class office Building) on or with respect to the Building and the Land upon which it is
located, assessed, levied, or imposed by any governmental authority having jurisdiction.
Excluded (unless in substitution in whole or in part for Taxes and Real Estate Taxes) from the
foregoing enumerations of Taxes and Real Estate Taxes will be (i) any income, franchise.
inheritance, capital stock, excise, excess profits, occupancy or rent, gift, estate, payroll or stamp
taxes or foreign ownership or control taxes or any ^-ealled "Gains Tax" imposed pursuant to
Article 31-B of the New York State Tax-Law (the "Gains Tax") and deed tax or transfer tax
imposed by Article 29 of the New York-State Tax Law, and any capital gains tax, deed tax.
transfer tax and mortgage recording tax imposed by Aftiele 11 of the New York State Tax Law
municipal, state or federal law, (ii) any expenses incurred by Landlord, or Landlord's estate.
including payments to attorneys and appraisers, in contesting the Taxes and Real Estate Taxes by
tax certiorari proceedings and such expenses and payments shall be the obligation of Landlord,
and (iii) any Taxes resulting from an increase of the assessed value of the Building attributable to
additions or capital improvements (other than replacements) to the Building unless such addition
or capital improvement was made in whole or in part for the benefit of tenants generally. As of
the date hereof, to the best of Landlord's knowledge, the only Taxes affecting the Building and/or
the Land are the real estate taxes payable to the City of New York as Pilot.
Tenant covenants and agrees that for each lease year of the Term commencing with July
1, 1998, where the total annual Real Estate Taxes imposed or assessed upon the land and Building
for such lease year is greater than the Tax base for the New York City fiscal year 1997/1998
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